Bitcoin Price Rises, but Wallet Activity Hits a Low Point
- Bitcoin’s wallet returns are down 1.9%, signaling losses for many traders since October.
- Despite the price rise, the MVRV metric shows many traders are currently at a loss.
- New Bitcoin addresses keep growing, but the pace has slowed by 10% in the past week.
As of December 2024, Bitcoin’s active wallets show a -1.9% return, marking the lowest average wallet returns since the start of the bull rally on October 10.
— Santiment (@santimentfeed) December 20, 2024
When looking to buy low (or sell high), don't just look at prices… Look at how competing traders have performed. Bitcoin's average returns (based on wallets making at least 1 transfer in the past 30 days) have a -1.9% return, despite BTC's all-time high happening just over 3… pic.twitter.com/vAXZMFCmjt
This suggests that many traders, particularly those who entered during the euphoria after Bitcoin’s all-time high, now have losing positions.
Bitcoin’s Price Surge and Declining Investor Interest
However, Bitcoin’s price grew by 61% since mid-October, which shows that the market continues to push higher, even as investor interest declines.
The 30-day Market Value to Realized Value (MVRV) s…
The post Bitcoin Price Rises, but Wallet Activity Hits a Low Point appeared first on Coin Edition.
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Long-Dormant Bitcoin Wallets Tighten Supply, Fueling Bullish Outlook
Bitcoin Price Rises, but Wallet Activity Hits a Low Point
- Bitcoin’s wallet returns are down 1.9%, signaling losses for many traders since October.
- Despite the price rise, the MVRV metric shows many traders are currently at a loss.
- New Bitcoin addresses keep growing, but the pace has slowed by 10% in the past week.
As of December 2024, Bitcoin’s active wallets show a -1.9% return, marking the lowest average wallet returns since the start of the bull rally on October 10.
— Santiment (@santimentfeed) December 20, 2024
This suggests that many traders, particularly those who entered during the euphoria after Bitcoin’s all-time high, now have losing positions.
Bitcoin’s Price Surge and Declining Investor Interest
However, Bitcoin’s price grew by 61% since mid-October, which shows that the market continues to push higher, even as investor interest declines.
The 30-day Market Value to Realized Value (MVRV) s…
The post Bitcoin Price Rises, but Wallet Activity Hits a Low Point appeared first on Coin Edition.
Read More
Norway’s Green Minerals Announces Adoption Of Bitcoin Treasury Strategy